SOLARA ACTIVE PHARMA SCIENCES LIMITED — Earnings Release 2021

Feb 5, 2021

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Communication Address: Solara Active Pharma Sciences Limited Batra Centre No. 28. Sardar Patel Road. Post Box 2630 Guindy. Chennai - 600 032. India Tel : +91 44 43446700. 22207500 Fax : +91 44 22350278 E-mail : investors@solara.com www.solara.co.in

February 5, 2021

The National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex Bandra (E), Mumbai – 400 051

The BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai – 400 001 Scrip Code: 541540 Scrip Code: SOLARA Dear Sirs,

Sub: Newspaper advertisement

Please find enclosed copies of the newspaper advertisement titled ‘Consolidated unaudited financial results for the quarter and nine months ended December 31, 2020’. The advertisements appeared in Business Standard and Lokmat (Marathi version).

Kindly take on record of the above.

Thanking you,

Yours faithfully,

For Solara Active Pharma Sciences Limited

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S. Murali Krishna Company Secretary

Solara Active Pharma Sciences Limited - CIN : L24230MH2017PLC291636

REGD. OFF: 201, Devavrata, Sector 17, Vashi Navi Mumbai - 400703. India/ Tel: 91-22-2789 2924 / 2789 3199 / Fax: 91-22-2789 2942

4 COMPANIES

1

MUMBAI | THURSDAY, 4 FEBRUARY 2021

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M&Acoststogoupastax reliefongoodwilljunked

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AmendmentistobeeffectivefromFY21andalsoappliestoearlieracquisitions DEV CHATTERJEE WHAT THE BUDGET Mumbai, 3 February

WHAT THE BUDGET PROPOSES...

ransactionsonmergersandacquisitions (M&As) are set to become T costlier because the Budget has proposed that goodwill, whether of a product or company, will not be eligible for tax depreciation. The amendment is to be effective from FY21 and applies also to earlier acquisitions, and the consequent goodwill related to such transactions. Depreciation on any past goodwill, even if partly claimed, will not be available ZERO GOODWILL because the amendment takes effect from April 1, 1998, said tax experts. | M&A,internalrestructuringincluded This will affect also internal corporate inamendment restructuring where goodwill was | Mayleadtomorelitigations claimed. “This may lead to more litiga-tion,” said a top tax expert. | Amendmentretrospectivesince1998

Goodwill(includingexistinggoodwill) tobenon-eligiblefortaxdepreciation

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| Wheregoodwillformspartofan assetblockonwhichtax depreciationhasbeenclaimed, theassetblock’swrittendown valueandtheshort-termcapital gainswillbedeterminedina mannertobeprescribed

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APPENDIX- II-A [Refer proviso to Rule 6 (2)] AUCTION NOTICE FOR SALE OF MOVABLE PROPERTIES Auction Sale Notice for Sale of Movable Assets under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with proviso to Rule 6(2) of the Security Interest (Enforcement) Rules, 2002. Notice is hereby given to the public in general and in particular to the Borrower and Guarantor(s) that the below described movable properties hypothecated/pledged/charged to the Secured Creditor/s, the symbolic possession of which has been taken by Authorised Officer of Edelweiss Asset Reconstruction Company Limited, acting in its capacity as Trustee of EARC Trust SC 120, SC 128, SC 129, SC 122, SC 134, SC 176, SC 230 and SC 237 (“EARC”) viz. the Secured Creditor, will be sold on “As is where is”, “As is what is”, and “Whatever there is” basis for Lot-I and Lot-II on 08.03.2021, for recovery of Rs.857,62,64,033 (Rupees Eight Hundred Fifty Seven Crores Sixty Two Lakhs Sixty Four Thousand Thirty Three Only ) as on 30th September 2020 together with further interest and other cost / expenses being due to the Secured Creditor i.e. EARC from the Borrower i.e. Arshiya Rail Infrastructure Limited and the Guarantors i.e. 1) Arshiya Limited; 2) Mr. Ajay Mittal;and 3) Ms. Archana Mittal. The reserve price and earnest money deposit shall be as follows : Lot No. Reserve Price Earnest Money Deposit (Rs.)* (EMD) (Rs.) Lot I 108,26,00,000 27,06,50,000 Lot II 41,20,50,000 10,30,12,500 Above prices does not include applicable taxes including GST &TCS, which is to the account of the buyer Description of Secured Assets put for Auction Lot I • 13 Rakes having 45 BLC Wagons along-with 9 BVC Wagon • 1750 numbers of 20ft Containers Lot II[• 5 Rakes in total out of which 4 Rakes having 45 BLC Wagons and 1 Rake having 40] BLC Wagons along-with 4 BVC Wagon • 700 numbers of 20ft Containers & 45 numbers of 40 ft containers. For detailed terms and conditions of the sale, please refer to the link provided in EARC’s website i.e. https://www.edelweissarc.in/PropertySale.aspx Interested parties may contact through phone on Contact No. +91 9136987963 and/or through e-mail on vineet.aggarwal@edelweissfin.com / vipul.gupta@edelweissfin.com Dated : 04.02.2021 Sd/- Authorised Officer Place : Mumbai Edelweiss Asset Reconstruction Company Limited*

| Acquisitioncostofacquired goodwillwillbethepurchaseprice (asreducedbyobtainedtax depreciation);itwillbenilfor othercases

Several M&A transactions signed in the past, including Hindustan Unilever’s tax advisory firm Katalyst. would not be available and, therefore, acquisition of Horlicks in December 2018 “In that sense, the amendment is retresult in lower negotiating power to the from GlaxoSmithKline Plc, had claimed roactive, and one wishes this was reconseller while valuing the business. high goodwill as depreciation and will sidered and existing positions grandfath“This will affect big-ticket transacnow be affected by this amendment. ered,” he said. tions,”saidMahindraChhajed,partnerof Hindustan Unilever had expected Tax expertssaid the proposed amendChhajed & Doshi and a noted tax expert. goodwill measured at around 1.3 billion ments would render ineffective the judgAccording to Katalyst, the extant proeuros to be deductible for tax purposes ment of the Supreme Court and various visions of the Income Tax Act provide for from the Horlicks deal. othersubsequentverdicts.Consequently, depreciation on tangible as well as intan“Depreciation is allowable on intanthe sound principles of commercial prugible assets. Intangible assets include gible assets such as goodwill, and there dence evolved in the past, and especially know-how, patents, copyrights, tradeare judicial precedents on that, arising as over the past nine years, in relation to marks, licences, franchises or any other a result of an acquisition and/or merger. depreciation on goodwill, specifically in business or commercial rights of similar The amendment seeks to do away with cases of acquisition of businesses nature. However, the goodwill of a busithat, and will impact M&As, especially in between third parties, and the valuation ness was not specifically included in the relationtotransactionswhereintangibles of which is at arm’s length, would be neudefinition of intangible assets. are the predominant chunk of the acquitralised by this amendment. Afterlonglitigationonwhethergoodwill sition price. The ability of the seller to Theaxiomof“intendedconsequences” should be considered an intangible asset negotiate with the buyer to share the wouldsquarelyapplyheresincethebeneand eligible for depreciation, the Supreme benefit of the tax break will be affected,” fit of tax breaks available to the acquirer Court had held goodwill was a depreciable said Ketan Dalal, managing partner of on account of depreciation on goodwill assetundertheIncomeTaxAct.

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Adani’senergybizjoinstop20globalclub

Adaniwins biginAndhra solarauction

Thankstoamassivethrustonrenewable Companyofficialssaidthetransmission energy(RE)segmentinthelasttwoyears, businessisexpectedtoseeover$50billion AdaniGroup’senergybusinesshasjoined (~4trillion)ofinvestmentsinthenextfive thetop20globalenergycompanieswithits years,andthegovernmentisexpected totalvaluationnowtouching$31billion investanother$40billion(~3trillion)to (~2.32trillion)comparedto$6.5billiontwo revivetheailingutilities. yearsago.NexteraEnergyofUSAandEnelof Inordertocashinontheopportunities, Italyaretoppingthegloballistwith$151 thegrouphasbuiltstrategicandapplied billionand$103billionrespectively, researchteamstocontinuestayingahead accordingto Bloomberg data. andcontinueitsexplorationoftechnologies Thegroupisaimingtobecomeworld’s andendorsethesameforearlyinvestments. largestREcompanyby2030.Thegroup’s ‘Thecoverageofentirevaluechainaugurs energyverticalincludesAdaniGreenEnergy, wellforasustainablemodel,andalso AdaniTotalGas,AdaniTransmissionand focusesoncapacityandhumanresources, AdaniPower.Severalglobalinvestors whiledeliveringongrowthexecutionand includingTotalandQIAhavealready operationalexcellence,’’saidanofficial. investedinthegroup’scompanies. DEV CHATTERJEE

SHREYA JAI NewDelhi,3February

Leading the pack:Top companies by market capitalisation Italyaretoppingthegloballistwith$151 billionand$103billionrespectively, accordingto_Bloomberg_data. Thegroupisaimingtobecomeworld’s largestREcompanyby2030.Thegroup’s energyverticalincludesAdaniGreenEnergy, AdaniTotalGas,AdaniTransmissionand AdaniPower.Severalglobalinvestors includingTotalandQIAhavealready investedinthegroup’scompanies. thegrouphasbuiltstrategicandapplied researchteamstocontinuestayingahead andcontinueitsexplorationoftechnologies andendorsethesameforearlyinvestments. ‘Thecoverageofentirevaluechainaugurs wellforasustainablemodel,andalso focusesoncapacityandhumanresources, whiledeliveringongrowthexecutionand operationalexcellence,’’saidanofficial. DEV CHATTERJEE ~~Utility~~ ~~Country~~ ~~M-cap~~ ~~Rank~~ ~~M-cap~~ ~~Rank M-cap~~ ~~Change~~ ~~2018~~ ~~in~~ ~~2021~~ ~~in~~ ~~in~~ ~~($bn)~~ ~~2018~~ ~~($bn)~~ ~~2021~~ ~~(%)~~ ~~rank~~ ~~NextEraEnergy~~ ~~US~~ ~~83~~ ~~1~~ ~~151~~ ~~1~~ ~~82.0~~ ~~0 -~~ ~~Enel~~ ~~Italy~~ ~~59~~ ~~3~~ ~~103~~ ~~2~~ ~~75.0~~ ~~1 ]~~ ~~Iberdrola~~ ~~Spain~~ ~~50~~ ~~5~~ ~~87~~ ~~3~~ ~~74.0~~ ~~2 ]~~ ~~Ørsted~~ ~~Denmark~~ ~~28~~ ~~15~~ ~~86~~ ~~4~~ ~~207.0~~ ~~11 ]~~ ~~DukeEnergy~~ ~~US~~ ~~63~~ ~~2~~ ~~67~~ ~~5~~ ~~7.0~~ ~~-3 ~~[ ~~ChinaYangtzePower~~ ~~China~~ ~~53~~ ~~4~~ ~~65~~ ~~6~~ ~~22.0~~ ~~-2 ~~[ ~~SouthernCompany~~ ~~US~~ ~~45~~ ~~8~~ ~~65~~ ~~7~~ ~~43.0~~ ~~1 ]~~ ~~DominionResources~~ ~~US~~ ~~49~~ ~~6~~ ~~61~~ ~~8~~ ~~26.0~~ ~~-2 ~~[ ~~EDF~~ ~~France~~ ~~47~~ ~~7~~ ~~49~~ ~~9~~ ~~4.0~~ ~~-2 ~~[ ~~NationalGrid~~ ~~UK~~ ~~33~~ ~~12~~ ~~42~~ ~~10~~ ~~27.0~~ ~~2 ]~~ ~~ExelonCorporation~~ ~~US~~ ~~44~~ ~~9~~ ~~41~~ ~~11~~ ~~-6.0~~ ~~-2 ~~[ ~~AEP~~ ~~US~~ ~~37~~ ~~10~~ ~~41~~ ~~12~~ ~~11.0~~ ~~-2 ~~[ ~~ENGIE~~ ~~France~~ ~~37~~ ~~10~~ ~~37~~ ~~13~~ ~~0~~ ~~-3 ~~[ ~~SempraEnergy~~ ~~US~~ ~~30~~ ~~13~~ ~~37~~ ~~14~~ ~~24.0~~ ~~-1 ~~[ ~~XcelEnergy~~ ~~US~~ ~~25~~ ~~18~~ ~~36~~ ~~15~~ ~~41.0~~ ~~3 ]~~ ~~Adanienergyvertical~~ ~~India~~ ~~6~~ ~~33~~ ~~31~~ ~~16~~ ~~384.0~~ ~~17 ]~~ ~~Verbund~~ ~~Austria~~ ~~16~~ ~~26~~ ~~30~~ ~~17~~ ~~88.0~~ ~~9 ]~~ ~~EversourceEnergy~~ ~~US~~ ~~21~~ ~~21~~ ~~30~~ ~~18~~ ~~44.0~~ ~~3 ]~~ ~~PSEG~~ ~~US~~ ~~26~~ ~~16~~ ~~29~~ ~~19~~ ~~12.0~~ ~~-3 ~~[ ~~E.ON~~ ~~Germany~~ ~~23~~ ~~20~~ ~~29~~ ~~19~~ ~~26.0~~ ~~1 ]~~ Excludesoil&gascompanies

Adani Green Energy (AGEL) won five mega solar power projects of 600 Megawatt (MW) each in the bidding held by Andhra Pradesh Green Energy Corporation (APGEC) for awarding 6.4 Gigawatt (GW) of ultra mega solar projects. State-owned NTPC won 600 MW in the auction quoting the lowest tariff of ~2.48 per kWh (unit). The lowest tariff discov- ered in the whole auction process was ~2.47 per unit by Torrent Power for a 300 MW solar project. AGEL quoted tariff in the range of ~2.49-2.58 per unit for the five projects, thereby winning half the capacity offered by the state. The solar plants are planned to be built in the districts of Kurnool, Ananthapuramu, Prakasam and Kadapa. The final award of the projects is sub- ject to the outcome of a writ petition filed in the High court of Andhra Pradesh. In January, the High Court stopped the state from awarding the 6.4 GW tender. The case was filed by Tata Power Renewable Energy, to quash the requests for selection (RfS) and draft power purchase agreements (PPAs) issued by APGECL.

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Adani,GMRamongothersinracefor rebuildingNewDelhirailwaystation

TWESH MISHRA ings,with2-Arrivaland2-Departureatthe NewDelhi,3February concourselevel,twomultimodaltransport hubs (MMTH) on its every side. In Arabian Construction Company, Adani addition, there will be 40-floor high-rise Railways Transport, Kalpataru Power twintowers(withhotels/officesandretail Transmission, GMR Highways, and atpodium)andpedestrianboulevardwith Omaxehaveexpressedinterestinredevelhigh- street shopping among the salient oping the New Delhi railway station. features of the proposed development. A statement from the Rail Land Pedestrianmovement,cycletracks,green Development Authority (RLDA) said that tracks, and non-motorised vehicles have BIFIVIndiaInfrastructureHolding(DIFC), been integrated into the proposed develISQ Asia Infrastructure Investments, opment plan. Anchorage Infrastructure Investments Thestationwillbedevelopedtoensure Holdings, and Elpis Ventures also partici- The station will be developed to ensure multimodal transport integration and pated in the Request for quotation (RFQ). multimodal transport integration and development. It is connected to the IGI “These companies will now undergo development Airport through the Airport Express Line technical evaluation. In the next stage MetroandwithDelhiNCRviaYellowLine RLDA will float the Request for Proposal at $680 million and will be developed on of Delhi Metro. DTC bus stops lie on both (RFP) for selected participants who get aDesign-Build-Finance-Operate-Transfer sides of the station. qualified in the technical process,” the model.Theprojectoffersmultiplerevenue The station has a master plan area of statement said. streams to the developer, including reve120hectares,ofwhich88hectaresisbeing “New Delhi Railway Station nue from real estate rights and is slated to planned in Phase 1 (of the project). RLDA Redevelopmentisaflagshipprojectofthe be completed in around four years. The is the approving authority for the master RailLandDevelopmentAuthority,andthe concession period is for 60 years,” the plan.Toexpeditetheapprovalsandclearfirst to be undertaken on the Transitstatement added. ances,anapexcommitteeunderthechairOriented Development concept in DelhiThe New Delhi station will be redevelmanship of lieutenant governor of Delhi NCR. It will incur the capital expenditure oped with dome-shaped terminal buildhas also been constituted.

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